Being Like Soros in Buying Farmland Lets Investors Reap 16% Annual Gains

Perry Vieth baled hay on a neighbor’s farm in Wisconsin for two summers during high school in 1972 and 1973. The grueling labor left him with no doubt about getting a college degree so that he’d never have to work as hard again for a paycheck. Thirty-eight years later, and after a career as a securities lawyer and fixed-income trader, Vieth is back on the farm.

Except, now, he owns it. As co-founder of Ceres Partners LLC , a Granger, Indiana-based investment firm, Vieth oversees 61 farms valued at $63.3 million in Illinois, Indiana, Michigan and Tennessee. He’s so enthusiastic about the investments that he quit a job in 2008 overseeing $7 billion in fixed-income assets at PanAgora Asset Management Inc., a Boston-based quantitative money management firm, to focus full time on farming, Bloomberg Markets magazine reports in its September issue.

On a spring afternoon, Vieth, 54, barrels along backcountry roads in a Jeep Cherokee in Indiana and Michigan to scout a fruit orchard and corn and soybean farms to buy. Rural towns with names such as Three Rivers pass by in a blur, separated by a wide horizon of fields with young crops popping up.

“When I told people I was leaving to start an investment fund in farmland, they said, ‘You’re doing what?’” says Vieth, in a red polo golf shirt and khakis. “It will always be difficult for Wall Street firms to understand. It’s not like buying stocks on a computer.”

It’s much better: Returns from farmland have trounced those of equities. Ceres Partners produced an average annual gain of 16.4 percent after fees from January 2008, just after the firm started, through June of this year, Vieth says.

The bulk of the returns are in rent payments from tenant farmers who grow and sell the crops and from land appreciation. The Standard & Poor’s GSCI Agriculture Index of eight raw materials gained 5.3 percent annually over the same period, and the S&P 500 Index (SPX) dropped almost 1 percent.

Investors are pouring into farmland in the U.S. and parts of Europe , Latin America and Africa as global food prices soar. A fund controlled by George Soros, the billionaire hedge-fund manager, owns 23.4 percent of South American farmland venture Adecoagro SA.

Hedge funds Ospraie Management LLC and Passport Capital LLC as well as Harvard University’s endowment are also betting on farming. TIAA-CREF, the $466 billion financial services giant, has $2 billion invested in some 600,000 acres (240,000 hectares) of farmland in Australia, Brazil and North America and wants to double the size of its investment.

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Know better? Leave your own answer in the comments!

Thanks Mrs.Cullen for the tip.

Even if you are not particularly fond of the brew, or even detest it, the history of beer is fascinating.

It comes in many different flavors and dazzling colors, something for everyone. There is white, golden, wheat, stout or strong, porter or double bock or even this fabulous green shade reserved for St. Patrick’s Day celebrations.

It is thought that beer was probably brewed even before civilization learned how to bake bread, with Noah probably his own stash upon the ark according to Professor Linda Raley of Texas Tech University.

In this picture taken from the World Encyclopedia of Beer by Brian Glover the King of Ur and his nobles raise their glasses at a banquet during 2,500 B.C. in toast with what was believed to be beer.

Babylonian clay tablets dating back to 4300 BC detailed recipes for beer. There were around 20 varieties produced at that time. nt, George Washington penned the following recipe in 1757, which I found here.

“To Make Small Beer

Take a large Siffer [Sifter] full of Bran Hops to your Taste. — Boil these 3 hours then strain out 30 Gall[ons] into a cooler put in 3 Gall[ons] Molasses while the Beer is Scalding hot or rather draw the Melasses into the cooler & St[r]ain the Beer on it while boiling Hot. let this stand till it is little more than Blood warm then put in a quart of Yea[s]t if the Weather is very Cold cover it over with a Blank [et] & let it Work in the Cooler 24 hours then put it into the Cask — leave the bung open till it is almost don[e] Working — Bottle it that day Week it was Brewed.”

Thomas Jefferson and George Washington were both known to own their own breweries

The basics of brewing have not changed much over the centuries as shown pictured below. This woman brews beer for her family in Zambia.

The huge copper kettles pictured in Saku Brewery in Estonia accomplish the same goal, accept in greater quantities.

This article is not meant to extol the virtues of beer, while beer does contain properties which both lower cholesterol and provide us with antioxidants, it has been often time misused and consumed to the detriment of mankind. I would hope that anyone who enjoys an occasional drink both drinks in moderation and does not drive while drinking.

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